Bank of New York Mellon Corp Purchases 4,200 Shares of UL Solutions Inc. (NYSE:ULS)

Bank of New York Mellon Corp raised its position in UL Solutions Inc. (NYSE:ULS - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,832 shares of the company's stock after buying an additional 4,200 shares during the quarter. Bank of New York Mellon Corp owned about 0.07% of UL Solutions worth $8,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Quarry LP purchased a new position in UL Solutions during the fourth quarter worth about $32,000. PNC Financial Services Group Inc. grew its position in UL Solutions by 653.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 671 shares of the company's stock worth $33,000 after buying an additional 582 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of UL Solutions in the 1st quarter worth about $49,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of UL Solutions in the 4th quarter worth about $201,000. Finally, Phillips Wealth Planners LLC purchased a new position in shares of UL Solutions in the 1st quarter worth about $226,000.

Insider Activity

In other news, EVP Alberto Uggetti sold 1,961 shares of UL Solutions stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $70.00, for a total value of $137,270.00. Following the sale, the executive vice president directly owned 9,285 shares of the company's stock, valued at approximately $649,950. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gitte Schjotz sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. Following the sale, the insider directly owned 46,889 shares in the company, valued at $3,162,194.16. The trade was a 12.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on UL Solutions from $65.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group upped their price target on UL Solutions from $57.00 to $63.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Raymond James Financial upped their price target on UL Solutions from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. UBS Group upped their price target on UL Solutions from $58.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating and set a $71.00 price target (up previously from $60.50) on shares of UL Solutions in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $69.43.

UL Solutions Price Performance

Shares of UL Solutions stock opened at $70.63 on Wednesday. UL Solutions Inc. has a one year low of $44.01 and a one year high of $73.98. The stock's fifty day moving average is $71.19 and its 200 day moving average is $60.64. The stock has a market cap of $14.16 billion, a P/E ratio of 42.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.24.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $705.00 million for the quarter, compared to analysts' expectations of $704.19 million. UL Solutions had a return on equity of 40.79% and a net margin of 11.60%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that UL Solutions Inc. will post 1.69 earnings per share for the current year.

UL Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 0.74%. UL Solutions's dividend payout ratio (DPR) is 31.14%.

About UL Solutions

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.

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